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Mar 31, 2020
ACADIA Q1 2020 Earnings Report
Reported strong first quarter results with NUPLAZID sales increasing by 43% year-over-year and provided revised 2020 financial guidance due to the anticipated impact of COVID-19.
Key Takeaways
ACADIA Pharmaceuticals reported a net sales increase of 43% for NUPLAZID in Q1 2020 compared to Q1 2019. The company is on track to submit a supplemental NDA for pimavanserin for the treatment of dementia-related psychosis this summer. Due to the anticipated COVID-19 impact, ACADIA reduced its 2020 revenue guidance by approximately 5%.
NUPLAZID net sales were $90.1 million, a 43% increase over Q1 2019.
On track to submit supplemental NDA for pimavanserin for the treatment of dementia-related psychosis (DRP) this summer.
Entered into a worldwide license agreement and collaboration with Vanderbilt University for a new central nervous system (CNS) therapeutic program.
2020 revenue guidance reduced by approximately 5% due to the anticipated COVID-19 impact.
ACADIA
ACADIA
ACADIA Revenue by Segment
Revenue by Segment
NUPLAZID Sales Revenue
CapyFin.com Forward Guidance
ACADIA is revising 2020 net sales and expense guidance to reflect the currently anticipated impact of the COVID-19 pandemic. ACADIA’s 2020 net sales guidance reflects annual revenue growth of approximately 28% for NUPLAZID, at the mid-point of the range.
Positive Outlook
- GAAP R&D guidance of $270 to $285 million is unchanged from prior guidance.
- Non-cash stock-based compensation expense guidance of $90 to $100 million is unchanged compared to prior guidance.
- 2020 year-end cash, cash equivalents, and investment securities of $470 to $500 million is unchanged compared to prior guidance.
Challenges Ahead
- NUPLAZID net sales guidance is decreased to $420 to $450 million from the previous range of $440 to $470 million.
- GAAP SG&A guidance is decreased to $425 to $445 million from the previous range of $440 to $460 million.